South African Fuel Prices to Drop in Days

South African Fuel Prices to Drop in Days

The South African Energy Department announced that the retail price of petrol and the wholesale price of diesel in South Africa will decrease starting April 5, Reuters reported.

The price of 95 octane petrol will fall to $0.99 per liter in the commercial hub of Gauteng province, while diesel will go down to $0.85 per liter, the Energy Department explained in a statement.

In related news, Jacob Zuma relieved Pravin Gordhan from his services on the 31st of March and replaced him with Malusi Gigaba. Zuma’s sudden decision shook the South African financial markets. Since then, Zuma experienced backlash from different parties opposing his new cabinet, Mail & Guardian reported.

South Africa’s Chamber of Mines released a statement last week expressing their serious concern in regards to the dismissal of the South African Finance Minister, Pravin Gordhan, at a time when South Africa’s sovereign credit rating is at risk and the investors’ confidence in the economy is at very low ebb.



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